Yext (NYSE:YEXT) Shares Gap Up on Strong Earnings

Yext (NYSE:YEXT)’s share price gapped up prior to trading on Tuesday after the company announced better than expected quarterly earnings. The stock had previously closed at $6.77, but opened at $7.66. Yext shares last traded at $6.9170, with a volume of 608,417 shares traded.

The company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.04. Yext had a return on equity of 43.47% and a net margin of 8.93%.The company had revenue of $111.10 million for the quarter, compared to analyst estimates of $111.30 million. During the same quarter in the prior year, the company posted $0.13 EPS. The business’s revenue for the quarter was down 1.8% compared to the same quarter last year.

Wall Street Analyst Weigh In

YEXT has been the subject of several recent analyst reports. Weiss Ratings upgraded Yext from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, June 3rd. Zacks Research cut shares of Yext from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 17th. One analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $6.67.

Insider Buying and Selling at Yext

In other news, Director Daniel J. Englander bought 76,190 shares of Yext stock in a transaction that occurred on Monday, July 13th. The shares were purchased at an average price of $5.22 per share, for a total transaction of $397,711.80. Following the completion of the acquisition, the director owned 141,190 shares of the company’s stock, valued at $737,011.80. The trade was a 117.22% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Seth H. Waugh purchased 133,000 shares of the stock in a transaction on Thursday, June 11th. The shares were purchased at an average cost of $3.75 per share, with a total value of $498,750.00. Following the transaction, the director owned 319,411 shares of the company’s stock, valued at $1,197,791.25. This trade represents a 71.35% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 7.80% of the company’s stock.

Institutional Trading of Yext

A number of institutional investors have recently modified their holdings of the company. Public Employees Retirement System of Ohio acquired a new stake in Yext during the 2nd quarter worth approximately $31,000. New York State Teachers Retirement System raised its holdings in Yext by 9,253.0% in the first quarter. New York State Teachers Retirement System now owns 9,353 shares of the company’s stock valued at $36,000 after buying an additional 9,253 shares during the period. Clearstead Advisors LLC lifted its position in Yext by 147.1% during the fourth quarter. Clearstead Advisors LLC now owns 4,677 shares of the company’s stock valued at $38,000 after buying an additional 2,784 shares in the last quarter. Gamco Investors INC. ET AL acquired a new position in Yext during the first quarter valued at approximately $38,000. Finally, Legal & General Group Plc purchased a new stake in Yext during the second quarter worth approximately $39,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Yext Trading Up 1.0%

The firm’s 50 day simple moving average is $5.50 and its 200-day simple moving average is $4.76. The company has a market capitalization of $685.31 million, a PE ratio of 97.34 and a beta of 1.13. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 6.03.

Yext Company Profile

Yext, Inc is a software-as-a-service company that provides a platform for digital knowledge management. Its core offering enables businesses to centrally manage and synchronize public-facing information—such as location details, product descriptions and service offerings—across a network of search engines, mapping services, voice assistants and third-party directories.

The Yext platform is built around a proprietary Knowledge Graph, which stores and structures data to ensure consistency and accuracy.